Poor documentation is a major issue for a group of creditors trying to go after borrowers in default.
Creditors taking borrowers to court over loans in default are instead seeing the debt wiped out because of incomplete ownership records and other documentation, The New York Times reports.
Some of the problems playing out now in the $108 billion private student loan market are reminiscent of those that arose from the subprime mortgage crisis a decade ago, when billions of dollars in subprime mortgage loans were ruled uncollectible by courts because of missing or fake documentation. And like those troubled mortgages, private student loans — which come with higher interest rates and fewer consumer protections than federal loans — are often targeted at the most vulnerable borrowers, like those attending for-profit schools.
Source: No papers, no debt: Billions in student loans may be wiped out
Faced with projections of continuing enrollment declines, members of the PASSHE oversight board will vote on a 3.5 percent tuition increase recommended at a committee meeting Wednesday.
If adopted, the increase will boost the lowest base tuition for undergraduates from $7,238 a year to $7,492.
Source: Pennsylvania state colleges could see tuition hike
A Pittsburgh city councilman is taking up the cause of those who are stuck with student loans but want to buy a home.
Source: Have a student loan and hope to buy a home? A Pittsburgh councilman’s pitching an idea for the state to help out
In dramatic shift, more than half of Republicans now say colleges have a negative impact on the U.S., with wealthier, older and more educated Republicans being least positive.
Source: In dramatic shift, most Republicans now say colleges have negative impact
PITTSBURGH —Action News Investigates has learned Pennsylvania school districts are sitting on more than $4 billion in cash.
Some districts are raising taxes even while holding onto millions in cash.
Source: Pennsylvania school districts stockpile billions in cash
The consequences of unpaid bills for school meals vary from district to district in Allegheny and Westmoreland counties, as well as elsewhere. But there is one action. Schools across the state and nation are now explicitly discouraged from taking to recover debt: humiliating or shaming students into paying.
A family of four making less than $31,980 per year qualifies for free meals or milk. A family of four making between $31,981 and $45,510 per year is eligible for reduced-price meals.
The figures are slightly higher than the 2016-17 guidelines.
Source: Some Western Pennsylvania school districts face dilemma over unpaid lunch tabs | TribLIVE
The huge diversity of frogs we see today is mainly a consequence of the asteroid strike that killed off the dinosaurs, a study suggests.
Source: Frog evolution linked to dinosaur asteroid strike – BBC News
TISHOMINGO, Okla. – Two high school basketball coaches in Oklahoma have been fired for using a school bus to make a beer run.
Tishomingo High School
basketball players were attending camp at Connors State College. Kyle Miller is one of the players and said, “It sort of just disappointed us all.”
A school board member confirms the boys’ basketball coaches were fired for using a school bus drive to a local convenience store to purchase alcohol.
“We noticed that the school bus was gone but he had told us to stay in our dorms and so we proceeded to do that and we just didn’t find anything out until the next day,” said Miller.
Source: Coaches fired after taking school bus on a ‘beer run’ | WPXI
Students attending Youngstown State University will pay less for tuition than any other public comprehensive university in Ohio and Western Pennsylvania under a $175.9 million operating budget approved Wednesday by the board of trustees.
The budget also appropriates nearly $1 million more for student scholarships.
Source: YSU tuition remains lowest in Ohio, western Pennsylvania